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Bitcoin Forex Trading Sites
Bitcoin was the world’s first ever cryptocurrency and is frequently viewed as a serious challenger to the traditional banking system. Recently, the currency has entered the news multiple times for reaching unparalleled highs - followed by some extreme lows. The world of Bitcoin is a volatile one - but there is certainly money to be made. At our top Bitcoin FX trading sites, you will be able to speculate on the value of Bitcoin without ever needing to own an actual coin!
How to Trade Bitcoin
There are a number of different ways you can get your hands on a coin. You can use one of the various cryptocurrency exchanges - or you could farm for coins using an array of processors and GPUs. That second one may seem simple, but prepare yourself for a gargantuan electricity bill and a serious forward investment to buy the gear. But by far one of the most popular ways to capitalise on Bitcoin in fact doesn’t actually involve owning it.
Bitcoin FX trading allows you to trade Bitcoin (and sometimes other cryptocurrencies) without the need to own the actual asset. This is advantageous to you in several key ways.
- You can get involved in the world of cryptocurrency without ever taking ownerships, broadening your opportunities
- You can trade on leverage, allowing you to trade Bitcoin without all of the necessary capital (trading on leverage can come with risks however)
- You can speculate on the value of Bitcoin depending on market conditions, allowing you to hedge your risks
- And finally, there’s no need to ever own an actual Bitcoin wallet - so there’s no risk of you losing your personal key!
In summary, there are many great reasons to start Bitcoin fx trading rather than trying to get your hands on the actual asset, which can be time consuming, volatile and frustrating.
Bitcoin Trading Strategies
There are a number of popular strategies available to traders interested in getting involved with Bitcoin. Here are a few popular choices to choose from:
- Day Trading: Want flexibility and the option to respond to short term market events? With day trading, you can open short term positions and capitalise on time sensitive opportunities.
- Swing Trading: Ride the wave of a trend and you could make some decent profit; capitalise on market momentum and then sell once you see significant downward trend.
- Scalping: Want a more active trading style to fully exploit the profits of trading bitcoin? Engage in frequent trading activity and buy and sell based on micro price movements.
Bitcoin fx trading is certainly the vogue for the financial markets, but that doesn’t mean you should discount other coins like Ethereum or Ripple. On the contrary, opening yourself up to the full spectrum of the market could result in some significant trading opportunities and the good thing is: the events that have an impact on Bitcoin also impact these currencies too.